SB2102 Summary

• Restores provisions for calculating base income of exempt organizations under the Internal Revenue Code to apply to all tax years (removes sunset date that was set for January 1, 2019).

• Makes sports wagering winnings allocable to Illinois for tax years ending on or after December 31, 2021, treating them similarly to existing gambling and lottery winnings allocations.

• Requires withholding of Illinois income tax from sports wagering winnings payments made after December 31, 2021, at the individual tax rate when federal withholding is required.

• Applies effective immediately upon enactment.